Before the initial advent of cryptocurrency ecosystem, it was so obvious that people have limited power over money, to further say even over their own money. Majorly, then where were two things involved;it's either you keep your money at home or in the bank. But because of security reasons, people began to opt for the former than the latter. The Fed or the CBN which is apex bank of all banks in Nigeria in charge of dishing out rules and regulations for other commercial banks.
The Apex bank and commercial banks are fully in charge of people's money have control over the money you have them. Don't get it twisted, I am not saying they own your money but the way your money is being handled, it's not what we all really like. What did I mean? I mean the kind of bizarre charges they charge on transaction is really out of this world. They have some meaningless charges that I count as extortion and unnecessary: charges like ATM card maintenance charges, there's charges on each transfer, also monthly sms charge and many more. This is how they have control over our money.
But when cryptocurrency ecosystem was introduced, it seems now to be giving people power over their money. For every transaction on any cryptocurrency applications, I don't I have come across any unnecessary charges. Cryptocurrency ecosystem makes people responsible for their money. Despite Binance being the leading ecosystem cryptocurrency applications doesn't even charge you for your money or for any transaction. That's why you see that some countries never accepted cryptocurrency just as it's happening in Nigeria presently.
Please note that, this isn't a cryptocurrency, financial or businessadvice,it's just an opinion. If you need a cryptocurrency, financial or business advice, consult a cryptocurrency or financial experts. Thank you.
